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Otto Energy (OEL) – Initiation Of Research – Pumping Out The Cash In The Gulf Of Mexico

    Home Latest Research Otto Energy (OEL) – Initiation Of Research – Pumping Out The Cash In The Gulf Of Mexico
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    Otto Energy (OEL) – Initiation Of Research – Pumping Out The Cash In The Gulf Of Mexico

    By admin | Latest Research | 0 comment | 10 July, 2018 | 0

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    Otto Energy (OEL) has a producing conventional oil field and two exploration prospects in the Gulf of Mexico as well as an upcoming exploration well one mile from the Armstrong/Repsol discovery on the North Slope in Alaska. We believe OEL is undervalued in that it is trading at circa 3x operating cash flow before any reinvestment into new projects. OEL offers an attractive combination of newly commissioned production and confirmed drill ready exploration prospects. OEL plans to use its forecast substantial free cash flow from operations to invest in new projects to replace produced reserves and potentially materially uplift production and reserves. We initiate coverage on Otto Energy (OEL) with a BUY recommendation and a price target of $0.10.

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